By NewsBlogger The Electoral Bonds Scheme has sparked controversy with allegations of corruption and extortion involving key political figures, investigative agencies, and the judiciary.
At a glance
- Congress leader Rahul Gandhi accuses the Electoral Bonds Scheme of being a corruption scandal orchestrated by PM Modi.
- Top donors who purchased electoral bonds are under investigation by ED and I-T departments
- Supreme Court issues notice to SBI regarding disclosure of unique alphanumeric code of electoral bonds.
- AICC president demands a Supreme Court-monitored special investigation into the scheme
- Union Home Minister defends the scheme as a tool to combat black money and bring transparency to political funding.
The details
The Electoral Bonds Scheme has become the center of a major controversy, with key political figures and institutions weighing in on the issue.
Congress leader Rahul Gandhi has accused the Electoral Bonds Scheme of being the “biggest extortion racket and corruption scandal in the world,” alleging that Prime Minister Narendra Modi is orchestrating it.
Gandhi further claimed that the funds collected by the BJP through electoral bonds were used to destabilize state governments.
Milind Deora and Ashok Chavan’s resignations from the party were downplayed by Gandhi, who also warned against agencies like the CBI and ED, accusing them of being involved in extortion.
The Enforcement Directorate (ED) and Income Tax (I-T) departments are investigating top donors who purchased electoral bonds.
The largest donor, Santiago Martin, a former laborer turned Lottery King, was among them.
The BJP reportedly encashed Rs 1,700 crore before the 2019 Lok Sabha elections and redeemed Rs 202 crore by 2024. The donor list was dominated by companies from the infrastructure, construction, mining, and pharmaceutical sectors.
The Supreme Court has issued a notice to the State Bank of India (SBI) regarding the disclosure of the unique alphanumeric code of electoral bonds.
AICC president Mallikarjun Kharge has demanded a Supreme Court-monitored special investigation into the Electoral Bonds Scheme.
He emphasized that the BJP received the highest amount in electoral bonds from corporates, while the Congress’s bank account, which received donations from party workers, was frozen.
Kharge called for freezing the bank accounts of the BJP until the completion of the probe, and sought an investigation into the alleged links between donations from raided companies and funds received by the BJP.
Union Home Minister Amit Shah defended the government’s aim behind the electoral bonds scheme, stating that it was designed to combat black money and bring transparency to political funding.
Shah expressed concern over the return of black money if the scheme was scrapped and suggested improving its modalities instead.
The Supreme Court, in a ruling led by Chief Justice of India D Y Chandrachud, declared that information about funding to political parties is essential for voters to make informed decisions.
The court deemed the changes made to implement the electoral bonds scheme as unconstitutional, violating the constitutional rights to freedom of speech and information.
Overall, the news story surrounding the Electoral Bonds Scheme is complex and contentious, involving allegations of corruption, extortion, and the misuse of political funding.
The involvement of top political leaders, investigative agencies, and the judiciary adds layers of complexity to the ongoing debate.
Article X-ray
Sources
Here are all the sources used to create this article:
- Electoral bonds PM Modi’s extortion racket, a means to take ‘hafta’ from firms: Rahul Gandhi
- Electoral bonds | Congress demands Supreme Court monitored probe into donations received by BJP for elections from companies raided by I-T and ED
- Govt brought electoral bonds scheme to combat black money: Amit Shah
Facts attribution
This section links each of the article’s facts back to its original source.
If you suspect false information in the article, you can use this section to investigate where it came from.
| indianexpress.com |
|---|
| – Rahul Gandhi called electoral bonds the biggest extortion racket and corruption scandal in the world – He claimed it was being run by Prime Minister Narendra Modi – Gandhi stated that the money collected by the BJP was used to bring down state governments – Milind Deora and Ashok Chavan quitting the party was not a big issue according to Gandhi – Gandhi warned agencies like the CBI and ED, stating they were involved in extortion – 3 of the top 5 donors bought electoral bonds with ED and I-T investigating them – The top donor was Santiago Martin, a former laborer turned Lottery King – BJP encashed Rs 1,700 crore before LS 2019 and redeemed Rs 202 crore before 2024 – Infrastructure, construction, mining, and pharma companies dominated the donor list – The Supreme Court issued a notice to SBI over disclosing unique alphanumeric code of electoral bonds |
| thehindu.com |
|---|
| – AICC president Mallikarjun Kharge demanded a Supreme Court-monitored special investigation into the electoral bonds scheme – BJP encashed ₹6,065 crore over five years through the electoral bonds scheme – Bank accounts of the BJP must be frozen till completion of the probe, according to Kharge – Several companies purchased electoral bonds soon after facing raids by Central agencies – BJP received the highest amount in electoral bonds from corporates – Bank account of the Congress, which received donations from party workers, was frozen – Kharge sought an investigation into alleged links between donation of funds by raided companies and funds received by the BJP – Supreme Court monitored investigation is needed as the apex court has struck down the Centre’s electoral bond scheme – Data related to the electoral bonds was released by the State Bank of India and published by the Election Commission of India on March 14 – Prime Minister Narendra Modi claims credit for the government’s performance and schemes – SBI data shows BJP received more than 50% of the donations while Congress secured 11% – Congress account was frozen by the Income Tax department, according to Kharge – Kharge highlighted lack of a “level playing field” due to Congress account being frozen – Congress received donations from workers, MPs, and small donors while BJP collected from corporates through electoral bonds – Special investigation is necessary to find out if BJP received money in return for favours or through harassment – Those who faced ED and I-T raids have joined the BJP and got party posts, according to Kharge |
| indianexpress.com |
|---|
| – Union Home Minister Amit Shah stated that the government’s aim behind the electoral bonds scheme was to combat black money – Shah believes that the scheme brings greater transparency in political funding – Shah respects the Supreme Court ruling that struck down the 2018 electoral bonds scheme but fears the return of black money – Shah believes that instead of scrapping it, the modalities of the electoral bonds scheme should be improved – Congress MP Rahul Gandhi called electoral bonds the biggest extortion racket and corruption scandal in the world, accusing Prime Minister Narendra Modi of running it – Gandhi claimed that money collected by the BJP was used to bring down state governments across the country – A five-judge Constitution bench, headed by Chief Justice of India D Y Chandrachud, highlighted that information about funding to a political party is essential for voters to exercise their freedom to vote effectively – The court ruled that changes made in the laws to implement the electoral bonds scheme were unconstitutional |
| – The court held the scheme violative of the constitutional right to freedom of speech and expression and right to information – 3 of the top 5 donors bought electoral bonds with ED and I-T knocking on their door – Electoral bonds donor number 1 is Santiago Martin, a labourer turned Lottery King – BJP encashed Rs 1,700 crore before LS 2019 and redeemed Rs 202 crore before 2024 – Infrastructure, construction, mining, and pharma companies dominate the donor list – The Supreme Court issued a notice to SBI over disclosing the unique alphanumeric code of electoral bonds |
